Genuine Parts (GPC) Holdings Boosted by OppenheimerFunds Inc.
OppenheimerFunds Inc. raised its position in Genuine Parts (NYSE:GPC) by 5.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 26,272 shares of the specialty retailer’s stock after purchasing an additional 1,472 shares during the quarter. OppenheimerFunds Inc.’s holdings in Genuine Parts were worth $2,496,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. First National Trust Co. boosted its position in Genuine Parts by 6.1% in the third quarter. First National Trust Co. now owns 29,723 shares of the specialty retailer’s stock valued at $2,843,000 after buying an additional 1,699 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Genuine Parts by 2.2% during the third quarter. Rhumbline Advisers now owns 310,673 shares of the specialty retailer’s stock worth $29,716,000 after purchasing an additional 6,602 shares in the last quarter. Haverford Trust Co. lifted its position in shares of Genuine Parts by 5.1% during the third quarter. Haverford Trust Co. now owns 325,374 shares of the specialty retailer’s stock worth $31,122,000 after purchasing an additional 15,722 shares in the last quarter. Cambria Investment Management L.P. lifted its position in shares of Genuine Parts by 184.0% during the third quarter. Cambria Investment Management L.P. now owns 59,616 shares of the specialty retailer’s stock worth $5,702,000 after purchasing an additional 38,624 shares in the last quarter. Finally, Sawyer & Company Inc acquired a new position in shares of Genuine Parts during the fourth quarter worth approximately $599,000. Hedge funds and other institutional investors own 74.30% of the company’s stock.
Shares of Genuine Parts (GPC) opened at $92.62 on Friday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.65 and a current ratio of 1.34. The firm has a market cap of $13,590.60, a P/E ratio of 19.92, a P/E/G ratio of 2.44 and a beta of 1.22. Genuine Parts has a 12 month low of $79.86 and a 12 month high of $107.75.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Friday, March 9th will be paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.11%. This is an increase from Genuine Parts’s previous quarterly dividend of $0.68. The ex-dividend date is Thursday, March 8th. Genuine Parts’s payout ratio is 68.90%.
A number of equities analysts have recently issued reports on the stock. Royal Bank of Canada reduced their target price on shares of Genuine Parts to $100.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 21st. Bank of America reduced their target price on shares of Genuine Parts from $90.00 to $80.00 and set an “underperform” rating on the stock in a research report on Wednesday, February 21st. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $107.00 target price (down from $114.00) on shares of Genuine Parts in a research report on Wednesday, February 21st. Zacks Investment Research upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating and set a $112.00 target price on the stock in a research report on Tuesday, February 6th. Finally, Moffett Nathanson assumed coverage on shares of Genuine Parts in a research report on Monday, December 4th. They set a “sell” rating on the stock. Four analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. Genuine Parts currently has a consensus rating of “Hold” and a consensus price target of $97.71.
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Genuine Parts Profile
Genuine Parts Company is a service organization engaged in the distribution of automotive replacement parts, industrial replacement parts, office products and electrical/electronic materials. The Company’s segments include Automotive, Industrial, Office Products Group, Electrical/Electronic Materials and Other.
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